The United States House of Representatives is poised to pass sweeping cryptocurrency legislation, including a regulatory framework for stablecoins—digital assets pegged to the U.S. dollar—following a week of intense negotiations on Capitol Hill.
Lawmakers were scheduled to vote Thursday on two significant pieces of legislation: one focused on regulating stablecoins, and the other outlining broader rules for the cryptocurrency industry.
The stablecoin bill, which has already cleared the Senate, is widely expected to pass the House and be signed into law by President Donald Trump as early as Friday.
If enacted, the legislation would represent the first major federal law governing digital assets in the United States, marking a pivotal moment for the crypto industry and potentially paving the way for its deeper integration with traditional financial systems.
Stablecoins have surged in popularity for enabling faster, lower-cost transactions than traditional banks. Their value is typically pegged to $1, making them a preferred tool in cryptocurrency trading due to their price stability.
The legislative push, informally dubbed “crypto week” by Republican lawmakers, nearly faltered amid resistance from some conservative members. On Tuesday, former President Trump met with Republican skeptics in an effort to rally support. After nearly nine hours of negotiations, the bills advanced Wednesday night.
To win over conservative holdouts, lawmakers added a clause in a separate defense bill that prohibits the U.S. government from creating a central bank digital currency (CBDC), which critics argue could allow federal oversight of individual spending habits.
While several countries are actively exploring national digital currencies, U.S. Federal Reserve Chair Jerome Powell has maintained that such an initiative would require clear authorization from Congress before moving forward.
When asked about the likelihood of the bills passing, House Speaker Mike Johnson responded confidently: “I do.”
